The proposed bill would amend various sections of the Arizona Revised Statutes related to Truth in Taxation, specifically updating the informational pamphlet requirements for bond elections and budget overrides. Currently, the tax impact examples in these pamphlets are based on a single-family home valued at $100,000. The bill would add an additional example for an owner-occupied home valued at $400,000, ensuring that both valuations are included in the tax impact calculations. Additionally, the bill would revise the informational pamphlet for municipalities to include a commercial property valued at $2,000,000. Furthermore, the bill would require the Truth in Taxation hearing notice to reflect the estimated tax impact on a home valued at $400,000, alongside the existing $100,000 valuation. It also makes various technical and conforming changes throughout the relevant statutes. Overall, these updates aim to provide clearer and more comprehensive information to taxpayers regarding the financial implications of proposed tax increases.

Statutes affected:
Introduced Version: 15-481, 15-491, 15-905.01, 15-1461.01, 35-454, 41-1276, 42-17107, 48-254, 16-204, 15-905, 42-12003, 42-12001, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-482, 15-949, 15-971, 15-447, 15-342, 15-493, 15-401, 15-402, 15-910, 15-910.01, 1999-2000, 15-995, 15-907, 42-17052, 42-17002, 42-17051, 15-1461, 42-17105, 42-12002, 42-17151, 42-17103, 42-17104